HTC Quits the Indian Market, Chinese Players Dominate
The technology company and smartphone maker HTC is reportedly quitting the Indian market. The major factor behind this exit has been reported as the wide invasion of the Chinese companies in the Indian smartphone market. The Chinese players such as Xiaomi, Redmi and Oppo cover almost 70-80 percent of the market in India.
The company has told around 70-80 employees to leave. However, there are a few exceptions including chief financial officer Rajeev Tayal. After abruptly stopping the local manufacturing for almost a year now, the company is breaking all the distribution contracts in the country.
An executive stated that HTC may look forward to entering the Indian smartphone market again as an online exclusive brand, but that will happen only after it’s able to turnaround sales global...